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LBC with Clive Bull, Saturday, 15 September 2018

Saturday, 15th September 2018

Mike & Clive in the LBC studioClive opens by asking Mike if those customers with payday loans from Wonga still have to pay the debts back. Clive then asks Mike who is most likely to buy the debt book from the Wonga after it recently went into administration as reports were emerging that Church of England (C of E) is an interested purchaser.

Mike explains why he feels it will not be the C of E that will buy the debt book but instead a consortium, possibly set up by the church, and if this takes place why this might be seen as contentious.

Mike reminded Clive that consumer debts are already being sold off cheaply all the time by the banks and credit card providers. The purchaser is always a debt collector who then goes on to claim 100% of the loan amount outstanding, so Mike asks why treat Wonga customers any differently?

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If you don't wish to listen to the whole show but just Mike's piece then move the timer to 1:39:51 - 1:45:30, (approx 5mins) Saturday, 15 September 2018 - Clive Bull

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